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Preservation and Foreclosure Prevention: What is Foreclosure?

Foreclosure is a legal process by which a lender takes ownership of the mortgaged property (for example, a home) and sells it to pay a defaulting borrower’s debt.

The process of foreclosure in Colorado takes approximately 4 months*. Foreclosure can be devastating to your finances and your credit, and can make it more difficult and more expensive to borrow in the future. Be sure you recognize the signs and take action immediately.

Protect your future! Let us help you plan carefully before you make any decisions. Call the Colorado Foreclosure Hotline now, toll-free at 1-877-601-HOPE.

 

*Source: http://www.foreclosurelaw.org/Colorado_Foreclosure_Law.htm

 

 

 

 

Colorado Foreclosure Hotline

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The consumer information on TakeRootDenver.com is used with permission from Freddie Mac. Freddie Mac offers extensive, regularly updated consumer information about buying and owning a home on its website, www.FreddieMac.com, in the “About Homeownership” section. Freddie Mac is not responsible for content errors or omissions on TakeRootDenver.com.

The funding source of this activity is the City and County of Denver, Office of Economic Development with Neighborhood Stabilization Program funding, and Freddie Mac.